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ICSC Chain Store Sales edged down 0.3% in Aug 11 Wk
The International Council of Shopping Centers and Goldman Sachs Retail Chain Store Sales Index edged down 0.3% in the week ended Saturday from the week before on a seasonally adjusted, comparable-store basis, as consumers reverted back to conservative shopping patterns.
"Sales were mixed this past week as the year-over-year results were strong but on a weekly basis the sequential change was slightly down for the prior week," said ICSC Chief Economist Michael Niemira.
Customer traffic was strong for apparel specialty stores and wholesale clubs, but was off for some discounters, dollar stores and office supply stores.
ICSC expects August industry sales will increase 1.5% to 2%.
On a year-on-year basis, the reading rose 3.6%.
Posted: August 14, 2012 Tuesday 07:45 AM